CVS to hike wages, introduce paid parental leave with windfall from new tax law

CVS to hike wages, introduce paid parental leave with windfall from new tax law

CVS will boost starting pay for hourly employees to $11 per hour from $9 per hour, starting in April. Pay ranges and rates will be adjusted for many of its retail pharmacy technicians, front store associates and other hourly retail employees later in the year. Full-time employees will qualify for as much as four weeks of paid parental leave, and worker health-care premiums will hold steady at current rates.

The health-care company has more than 240,000 employees.

Retailers have started hiking their minimum wages to remain competitive in a tightening labor market. Numerous big names have announced raises and added benefits since President Donald Trump signed the Tax Cuts and Jobs Act in December.